Stats released today by The Insolvency Service unveiled a 1% upturn in company insolvencies in July compared to the month before.
Construction, wholesale, retail, accommodation and Food Service topping the table of struggling industries who are responsible for 47% of all company insolvencies.
In 2024, there were 23,872 registered company insolvencies comprising 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments.
The total number of company insolvencies in 2024 was 5% lower than in 2023, which saw the highest annual number since 1993.
The change in total company insolvency numbers in 2024 was mostly…